Applied Materials (NASDAQ:AMAT) Price Target Cut to $230.00 by Analysts at Deutsche Bank Aktiengesellschaft

Applied Materials (NASDAQ:AMAT) had its target price decreased by Deutsche Bank Aktiengesellschaft from $260.00 to $230.00 in a report issued on Friday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the manufacturing equipment provider’s stock.

Other analysts also recently issued research reports about the stock. Mizuho increased their price objective on shares of Applied Materials from $225.00 to $245.00 and gave the company a buy rating in a research report on Friday, May 17th. Barclays raised shares of Applied Materials from an underweight rating to an equal weight rating and lifted their price target for the stock from $165.00 to $225.00 in a research note on Wednesday, June 5th. Cantor Fitzgerald reaffirmed an overweight rating and set a $250.00 target price on shares of Applied Materials in a research report on Friday. Susquehanna increased their price target on Applied Materials from $160.00 to $185.00 and gave the company a neutral rating in a report on Thursday, May 16th. Finally, Morgan Stanley lifted their price objective on Applied Materials from $223.00 to $224.00 and gave the stock an equal weight rating in a report on Friday. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $233.14.

Applied Materials Price Performance

Applied Materials stock opened at $210.94 on Friday. The firm has a fifty day moving average of $222.16 and a 200-day moving average of $210.33. Applied Materials has a 52-week low of $129.21 and a 52-week high of $255.89. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $174.65 billion, a P/E ratio of 24.25, a PEG ratio of 2.45 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.10. The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 EPS. As a group, analysts predict that Applied Materials will post 8.31 EPS for the current year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Thursday, August 22nd. Applied Materials’s dividend payout ratio (DPR) is 18.39%.

Insider Buying and Selling

In other Applied Materials news, CFO Brice Hill sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total value of $4,446,800.00. Following the sale, the chief financial officer now directly owns 108,356 shares in the company, valued at $24,091,873.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Applied Materials news, CFO Brice Hill sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total value of $4,446,800.00. Following the sale, the chief financial officer now owns 108,356 shares in the company, valued at $24,091,873.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Prabu G. Raja sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $249.17, for a total value of $12,458,500.00. Following the transaction, the insider now owns 458,417 shares of the company’s stock, valued at $114,223,763.89. The disclosure for this sale can be found here. Insiders sold a total of 89,827 shares of company stock worth $21,382,560 in the last three months. 0.29% of the stock is owned by insiders.

Hedge Funds Weigh In On Applied Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aldebaran Financial Inc. acquired a new stake in Applied Materials in the 4th quarter valued at about $211,000. Sycomore Asset Management boosted its holdings in Applied Materials by 55.6% during the fourth quarter. Sycomore Asset Management now owns 33,107 shares of the manufacturing equipment provider’s stock worth $5,437,000 after buying an additional 11,825 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services acquired a new position in Applied Materials in the first quarter worth approximately $1,764,000. CWM LLC boosted its stake in shares of Applied Materials by 18.9% during the 4th quarter. CWM LLC now owns 37,821 shares of the manufacturing equipment provider’s stock worth $6,130,000 after acquiring an additional 6,001 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Applied Materials by 89.3% during the second quarter. GAMMA Investing LLC now owns 8,988 shares of the manufacturing equipment provider’s stock worth $2,121,000 after purchasing an additional 4,239 shares during the period. 80.56% of the stock is owned by institutional investors.

About Applied Materials

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.